Examlex
The Sullivan principles stem from the beliefs of Leon Sullivan who felt it was not ethical for General Motors to operate in South Africa unless the company participated in apartheid laws for its African operations.
Sunk Costs
Costs that have already been incurred and cannot be recovered.
Marginal Analysis
The examination of the benefits and costs of an additional unit of consumption or production to make decisions on allocations of resources.
Risk Aversion
The behavior of preferring to avoid loss rather than making a gain, reflecting a preference for certainty over uncertainty.
Irrational Decision
A choice made that contradicts logical reasoning, often influenced by emotional factors or cognitive biases.
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